Tennessee Code Annotated
Tenn. Code Ann. § 47-14-115 (2026)
Usury or excess charges - Equitable remedies
✓ current as of May 2026
- (a) The chancery court has jurisdiction, concurrent with courts of law, for the abatement and recovery of usury or excess loan charges.
- (b) No person shall be entitled to an equitable remedy with respect to usury or excess loan charges unless the person seeking such remedy does equity by paying, or tendering into court, the principal plus lawful interest and loan charges then due; provided, that any contract may be reformed by suit brought in equity with respect to any regulated loan charges, brokerage commissions, or commitment fees in excess of those authorized by law upon cost bond or, in appropriate cases, on pauper's oath.
- (c) Where successful in the reformation of the instrument, the complaining party shall be awarded reasonable attorneys' fees.
Acts 1979, ch. 203, § 14.
Notes of Decisions
Cited in 2
cases, 1991–1999 · leading case: Hathaway v. First Fam. Fin. Servs., Inc., 1 S.W.3d 634 (Tenn. 1999).
Hathaway v. First Fam. Fin. Servs., Inc., 1 S.W.3d 634 (Tenn. 1999). “§ 47-14-115(b) and (c) (1995 Repl.). When there is a deliberate violation of the provisions of the Loan and Thrift Act regarding interest and loan charges, the following remedies are provided by the statute: Where, however, the court finds that the lender or creditor has been…”
In Re Apple Tree Partners, L.P., 131 B.R. 380 (Bankr. W.D. Tenn. 1991). “Further, the debtor’s usury attack is undercut by Tennessee Code Annotated § 47-14-115, which provides that one asserting an equitable usury remedy must first pay the lender or tender into court the principal plus lawful interest and loan charges due.”
Tenn. Code Ann. § 47-14-115(b): 1 case
Hathaway v. First Fam. Fin. Servs., Inc., 1 S.W.3d 634 (Tenn. 1999). “§ 47-14-115(b) and (c) (1995 Repl.). When there is a deliberate violation of the provisions of the Loan and Thrift Act regarding interest and loan charges, the following remedies are provided by the statute: Where, however, the court finds that the lender or creditor has been…”
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